Dear Friend of GATA and Gold:More than three weeks ago the London Bullion Market Association and CME Group, operator of the New York Commodities Exchange, announced that they were cooperating in the creation of a Comex gold contract offering delivery not just of the usual Comex 100-ounce bar but also the option of a certificate for a one-quarter stake of ownership in a 400-ounce bar.The CME Grou...Read More
By: Ira EpsteinGold's weekly chart is bullish, 18-week moving average nearing $1,600 -- a big support area for gold. Upper Bollinger bands at $1722 area and rising...Read More
Nothing Like NormalMath ProblemA Few Thoughts on UnemploymentRepricing the WorldStaying at HomeThe viral fog is starting to thin. US coronavirus case growth appears to be slowing, albeit at a tragically high level. Governments and businesses are thinking about the next stage.On the other hand, fog tends to return when the weather is right. Might this virus come back, as seems to be happening in...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekWeek Ended April-17, 2020 $AEM, $CXB.TO, $KOR.TO, $EGO, $AG, $FSM, $GCM.TO, $HL, $JAG.TO, $MUX, $NUAG.V, $OSK.TO, $ROXG, $RGLD, $SILV, $SSRM, $TXG.TO, $WDO.TO, $WPM, $AUY Agnico-Eagle: The government of Quebec declared mining an essential business, which has a significant impact on Agnico as several of its highly profitable operations...Read More
RAPAPORT... LVMH saw a slump in jewelry and watch sales in the first quarter as the COVID-19 pandemic led to the closure of most of its global stores.Revenue for the category fell 24% to EUR 792 million ($861.3 million) for the three months ending March 31, the company said last week. The spread of the outbreak affected luxury products in all the company's major markets. "The economic environ...Read More
RAPAPORT... De Beers' mining operations in Botswana have been on hold for more than two weeks amid a national lockdown, the company told Rapaport News.Debswana, the company's joint venture with the government, paused activities on April 2 when the coronavirus-related restrictions began, a De Beers spokesperson said Friday. The miner had not previously disclosed its full response to the Botswana lo...Read More
RAPAPORT... Rio Tinto has maintained its diamond-production outlook for 2020 despite market shutdowns due to the coronavirus pandemic.The miner expects to produce between 12 million to 14 million carats from its Argyle mine in Australia and its Diavik deposit in Canada during the year, it noted Friday. The forecast comes even as diamond output dropped 10% year on year in the first quarter. Th...Read More
(IDEX Online) - The Fancy Color Research Foundation says COVID-19 has hit trade so badly that it won't be publishing its regular quarterly index. Its Fancy Color Diamond Index (FCDI) has been tracking changes in wholesale buying prices of yellow, pink and blue stones since 2015. But government lockdowns and travel restrictions have brought trading in fancy color diamonds to a virtual halt and...Read More
(IDEX Online) - A diamond weighing 50.36 cts has been recovered as work continues behind closed doors at the Grib mine, in Archangelsk, northern Russia. Owners AGD Diamonds say the transparent, regular-shaped, jewelry-grade stone was found during lockdown on 13 April. "The exclusive jewelry grade diamond became the second large diamond mined by company's specialists this year," it told the g...Read More
(IDEX Online) - Russian mining giant Alrosa aims to meet its full-year production target for 2020, despite coronavirus. It recovered 8m cts in the first quarter, a drop of nine per cent on Q1 2019, but says the outlook for the whole year remains at 34.3m cts. That figure that was reduced late in 2019 from 38.7m cts. State-owned Alrosa produces around 25 per cent of diamonds globally, and almost 30...Read More
"Reuters: shrinking #nickel supplies following shutdowns linked to the new coronavirus and loss-making operations because of low prices are expected to offset weak demand from stainless steel mills and leave the market with only a small surplushttps://t.co/T9f5X4Nrad"Read full newsRead More
(Kitco News) - SSR Mining Inc.'s (NASDAQ, TSX: SSRM) three operations combined to produce over 107,000 gold-equivalent ounces during the January-M...Read full newsRead More
""With the safety measures we have put in place at all our sites, we are confident that we can adapt our business and continue to create long-term value for our stakeholders."??"^?oe...See these tickers:$NLR $RYO $AUX $VSR $SSE $CBI $SMN $CCW#MomentumStockshttps://t.co/opyTRaMvCd"Read full newsRead More
"Investing in Gold: What are your options?Read our FREE 2020 gold report for everything you need to know about investing in the precious metal before you jump into the market! https://t.co/cBhszclew1 #preciousmetals #gold #investing"Read full newsRead More
Haul truck at an iron ore mine in western Australia. (Image courtesy of BHP) BHP on Tuesday reported a 6.3% rise in third-quarter iron ore production that only narrowly missed analyst estimates, and kept outlook unchanged for two of its key products despite global economic disruption caused by the coronavirus outbreak. Total iron ore production increased by 3% to 181 million tonnes YTD. Guidance...Read More
Image of Ocotillo Express Wind Project in California by slworking2 The International Energy Agency (IEA) report on key electricity trends in the world's developed economies, released last week, shows renewable energy overtaking coal as a source of electricity generation for the first time in 2019.Natural gas took the top spot from coal in 2018 and last year coal-fired power production fell by the...Read More
Have you heard the one about the atheist in the coffin?"He's all dressed up with nowhere to go."That's exactly how I felt when I filled up my Jeep this week for an astounding $1.66 a gallon.Normally, I would have been thrilled - Jeeps aren't known for being the most fuel-efficient cars around and my daily commute to work costs me a pretty penny in a normal week. But my giddiness quickly turned to...Read More
Harte Gold's Sugar Zone gold mine in northern Ontario.?EUR,Image from Harte Gold. In the first quarter of this year, Harte Gold (TSE: HRT) reported it has produced 8,597 ounces at its Sugar Zone mine in Ontario.This is a record for the company and a 7% increase over the 8,017 ounces generated in the fourth quarter of 2019. This growth appears driven by higher grades milled - head grades average...Read More
Roberto Pancaldi Image from Tenova. Tenova, a company specializing in solutions for the metals and mining industries, has announced it will reorganize its businesses and review its governance structures. The company designs technologies and develops services that help reduce costs, save energy, limit environmental impact and improve working conditions.The changes are intended to steady Tenova's p...Read More
F-Class portable plant. Image from Haver & Boecker. Haver & Boecker Niagara, Haver & Boecker's new mineral processing brand, has launched the Niagara F-Class portable plant. Its circular motion inclined vibrating screen allows operations to increase production while making screen media change-outs easier on an inclined vibrating screen.A circular motion inclined vibrating screen uses gravity to h...Read More